The blowup of crypto platform FTX and the saga of founder Sam Bankman-Fried are still unfolding, but this is a good time to contemplate where the virtual currency industry goes from here.
Brian Armstrong, founder and CEO of Coinbase, and Jesse Powell, founder and chairman of Kraken, deserve substantial credit for growing the cryptocurrency market within the U.S. to the extent that the Board of Governors of the Federal Reserve reported in their “Economic Well-Being of U.S. Householders in 2021” that 12% of adults held or used cryptocurrencies in the prior year.
FTX, Celsius, Voyager and others are bankrupt, and Gemini is experiencing well-publicized difficulties and has frozen certain withdrawals. Customers flocked to the products that appeared familiar, such as gathering deposits, paying interest on them and lending out the money, and other banking-type products. But these shadow-banking activities tended to lead to the collapse of crypto firms.
Larger, established entities are moving slowly into digital assets. Fidelity recently announced support for crypto trading, and it is joining other financial institutions including Robinhood Markets HOOD, -2.40%, SoFi Technologies SOFI, -0.45% and Vast Bank. These companies are part of the movement but are not true third-generation firms.
The future in defi is $hifi HifiFinance
Renewable_Energy_Token 47
Renewable_Energy_Token
Lmao cc: EpsilonTheory
New scammers. That's what we need. Great take!
Invented and delivered by Satoshi Nakamoto BitcoinII
Ehrls15 was a financial industry veteran. Just saying...
Yeah, let’s invite even more woke scamming scumbags into the space. Well-managed companies? Sounds eerily similar to the G for Governance, which is part of the ESG scam, as still promoted by the largest scammer of all: BlackRock.
Yes, it is a great opportunity for a new wave of crooks to shave a new generation of sheep.
Decentralization & DeFi.. no more centralized companies period. Good luck with that
No, it’s time for everyone to self custody bitcoin and for all crypto companies to die
🚫 Don't repeat the same mistake...
All rugs...
Bitcoin not crypto.
🤡🌎
Or more sophisticated scammers that learned from past failures. For example, not living in Bahamas because their prison is a nasty place.
have you guys tried out the new MashinskyWifeSwap protocol, where you can book Krissy Mashinsky over a weekend for free? She so dirty, she really does it all 👌👈👈 Celsius celsiusnetwork
Who would ever trust one again though? I certainly wouldn’t
popler is trying to position itself as the next generation of reliable stablecoins. It’s time for grifters and liars to get out of the space
😂😂🤣🤣🍞🧈
Or is it just another opportunity for another scam.
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'Fool me once, shame on you. Fool me twice, shame on me. Fool me three times, shame on both of us.'
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